________ are an estimate of a firm's future income and expenses, based on its past performance, its current circumstances, and its future plans.

Question

Quizplus · Accepted Answer

Forecasts are specifically designed to estimate a firm's future income and expenses. Calculation statements and financial statements are not specifically designed for forecasting. Statements of cash flow are a specific type of financial statement that shows a company's cash inflows and outflows. Prediction statements are not a common term used in accounting or finance.

________ Are an Estimate of a Firm's Future Income and Expenses